Advances in quantum computing have the potential to change the world as we know it, especially since current security and encryption solutions will not be able to withstand attacks launched by quantum computers. For this reason, the Inter-American Development Bank (IDB), Cambridge Quantum (CQ) and the Monterrey Institute of Technology have identified and addressed several potential threats to blockchain networks posed by quantum computers. To combat these threats, the project team has developed a cryptographic layer that allows blockchain networks to protect themselves from attacks carried out with quantum computers. The rise of Bitcoin and other cryptocurrencies has made blockchain increasingly popular and now that companies are exploring the use of decentralized ledgers for technology in the finance, real estate and other real estate industries, prepare for the era Quantum has become even more important.
Post-quantum crypto layer
The post-quantum cryptographic layer developed by IDB, CQ and the Monterrey Institute of Technology protects networks and provides resistance to quantum computing attacks and was developed on the LACChain Besu blockchain network, which is based on Ethereum technology. During testing, transactions and communications were protected by quantum-proof keys from CQ's IronBridge platform, which uses quantum computers to generate certified entropy. IDB Lab Executive Director Irene Arias Hofman provided more details on the project team's progress in a press release, saying: “In the digital age we find ourselves in, we have at our disposal different emerging technologies capable of solving social problems, and to the extent that we are able to combine them, we will achieve an exponential impact. In this case, the knowledge of the IDB team, with CQ and TEC, in quantum technologies and blockchain, allowed us to take a fundamental step to guarantee the future integrity of LACChain, a blockchain platform created by the IDB Lab that more than 50 entities of the region already use. Expect to see more security solutions developed to defend against attacks from quantum computers in the future, especially as they become more powerful and more widely available.